Meiji Yasuda Asset Management Co Ltd. Buys New Stake in BioMarin Pharmaceutical Inc. $BMRN

Meiji Yasuda Asset Management Co Ltd. purchased a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 7,780 shares of the biotechnology company’s stock, valued at approximately $445,000.

A number of other institutional investors have also recently made changes to their positions in the business. CIBC Private Wealth Group LLC raised its stake in BioMarin Pharmaceutical by 38.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 179 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in shares of BioMarin Pharmaceutical by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 42,982 shares of the biotechnology company’s stock valued at $2,554,000 after purchasing an additional 183 shares during the last quarter. Caerus Investment Advisors LLC raised its position in shares of BioMarin Pharmaceutical by 2.8% in the 4th quarter. Caerus Investment Advisors LLC now owns 10,236 shares of the biotechnology company’s stock valued at $608,000 after purchasing an additional 278 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in BioMarin Pharmaceutical by 2.4% in the 1st quarter. Chicago Partners Investment Group LLC now owns 12,183 shares of the biotechnology company’s stock worth $660,000 after purchasing an additional 290 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in BioMarin Pharmaceutical by 62.2% during the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 295 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Barclays lifted their price objective on shares of BioMarin Pharmaceutical from $105.00 to $111.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. Sanford C. Bernstein dropped their price target on BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Canaccord Genuity Group raised their price objective on BioMarin Pharmaceutical from $111.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Piper Sandler lifted their target price on BioMarin Pharmaceutical from $82.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. Finally, Weiss Ratings downgraded shares of BioMarin Pharmaceutical from a “hold (c-)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and an average target price of $88.83.

BioMarin Pharmaceutical Stock Up 1.6%

BMRN opened at $66.12 on Wednesday. The company has a market cap of $12.80 billion, a PE ratio of 178.70, a price-to-earnings-growth ratio of 0.47 and a beta of 0.24. BioMarin Pharmaceutical Inc. has a twelve month low of $49.26 and a twelve month high of $70.98. The company has a 50-day moving average price of $61.07 and a 200 day moving average price of $57.99. The company has a quick ratio of 1.32, a current ratio of 2.39 and a debt-to-equity ratio of 0.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.25. The company had revenue of $989.71 million for the quarter, compared to analyst estimates of $932.03 million. BioMarin Pharmaceutical had a return on equity of 5.32% and a net margin of 2.14%.The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.44 EPS. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. Sell-side analysts expect that BioMarin Pharmaceutical Inc. will post 4.1 earnings per share for the current fiscal year.

BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.